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irreparable damage to the u.s. economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that means. >> exports in november, down 94.1 billion is where we essentially went. 98.4 billion was the october numbers. so exports in november driving down. and that gdp number is worth pulling out. exports for the year, up 4.1%. as far as production is concerned, it was up 2% in november. but the forecast were for it to rise up 1%. it was a very weak october, as well. it was this production and that production number. when that came out, it essentially made people put a pretty fourth quarter in the whole, kelly. what we're trying to do is derive what the annual figure was. >> exactly. and before we get to that
the world. china's economy rebounds into the fourth quarter, beating expectations and snapping seven straight quarters of slow growth. >>> the british government says there's no indication that the hostage crisis is over in algeria as the reports emerge that doesz may have been killed in a rescue operation. >>> investors are unnerved by big spending plans in 2013. plus, glencore pushes back its mega merger by weeks as the regulatory commission begin necessary south africa. >>> welcome to the program. i want to bring you some breaking news in terms of energy prices. the iea is out with its latest 2013 oil report. it expects u.s. oil demand to remain flat on the year. but the headline here does appear that the market, according to the iea language here, is tighter than we thought. all of a sudden, the market looks tighter than we thought. that's the main message we're getting from the organization. it says the world forecast to consume about 90.8 million barrels per day in 2013, up by about a quarter of a million since december. despite seeing the u.s. slight to even negative, seen as
downturn. the problem is the program has not worked well. it is not tied to the condition of the economy. it needs to be fixed. roseanne. -- >> roseanne. >> i am inspired. i want folks to understand they have to engage. they cannot trust those in washington d.c.. we have got to take control in our democracy. i want to talk about the fact this goes back to unemployment. it is a very easy read. it cuts to the chase in terms of facts that there are programs to get through and get 100% employment. do not discount america. take control of america. [applause] >> i forgot to mention, the book is called america's poor and the great recession. ideas about what democrats and republicans can agree on. speaker gingrich. >> thank you for assembling an amazing group and a fascinating evening. i hope everybody found it as intriguing as i did. it is clear our institutions and poverty -- institutions are not working. there is a need to rethink from the ground up and use all of the various technologies. then have a conference at the end and then give a major speak. i think we do not have the solutions in
's stories. the big one, china aes economy rebounding in the final quarter of to 12. growth to 7.9%, up from 7.4% the appreciate quarter. economists do caution, though, that a chinese recovery is likely to be gradual and weak to drive a global rebound without improvement in the u.s. and europe. also, the fate of dozens of hostages in algeria is still unknown. the algerian military stormed a gas field where the workers were being held. six people if not more are believed to have been killed. >>> a team of experts from boeing and the aviation experts are arriving in japan today. today the japan transportation safety board released a picture of the battery. they said the battery was blackened and carbonized, had a bulge in the middle and weighed 11 pounds less than normal. >>> and the interview everybody is talking about, i stayed up late to watch it, lance armstrong telling oprah that he cheated. >> in all seven of your tour de france victories, did you ever take banned substances or blood dope? >> yes. i view the situation as one big lie that i've repeated a lot of times. i'll spend the rest
having different task force for the visa according to the economy? >> there has to be away -- a lot of our laws date back to the 1950's. some to the 1960's. there has to be a way of bringing it up to date. those are things that will have to be negotiated. all be just say it can't managed by a central system in washington where washington decides how many nurses we need, how many farm workers. business will have to play a role and business will have to be the determining factor in order to make this work in a practical way. >> think for a man and that 10,000 people a day retire in the united states, seven days a week. we are a nation with unemployment and with a shortage of people that go to work at specific jobs. the secretary's point is on target. if you try to do this with an overseer of exactly how many left-handed nurses and right- handed carpenters get into the added states, we are doing the wrong thing. we need to do it on demand. if we have an extraordinary need to be competitive, and many, because of the price of energy and the fact the country is probably will have and have
coming this week. joining us now is jeff clinetopp at lpl financial. on the economy, dick hoey. jeff, it's going to start with you because i'm interested to see we could have not just a lower than expected increase in earnings this year, but maybe even a negative year since aus thegs companies and profit margin is were peaking. is it possible the s&p earnings do not grow this year? >> there's a distinct possibility earnings don't grow. our expectation is they grow a very small amount, but a lot of that is coming from share buyback these year. this quicker alone is a testament to that. this fourth quarter, supposed to be the lowest earnings dollar total for any of the quarters of last year. that's not the way it's supposed to work. fourth quarters is supposed to be the highest earnings total. but we've got that uncertainty lingering for 2012. this week, we'll hear from a lot of the fms. they have the highest earnings expectations for 2013. mortgages are doing well. but the less favorable -- >> and we know how difficult it has been to grow revenues year over year. so that's difficult and y
about the u.s. economy, the turning in the house prices, europe, for example, these things will make an extraordinary amount of money even if they require more capital because banks are extremely leveraged institutions. and you only need a small amount of top line growth for them to make a lot of profits. >> if you to pick u.s. banks versus the rest of the world, what do you like for 2013? >> it bizarre thing is that last year everybody was upset about the masters of the universe and were talking up their retail and sort of consumer arms because credit losses were falling. interestingly, this year i suspect bank with more exposure to independent banking will probably do a lot better much to the chagrin of politicians i suspect. why is that? the m&a pipeline's looking all right. u.s. economy's looking slightly better. and we're still pre-basal 3. >> we'll leave it there. lex on wex, can we use that? >> yeah. >> is that all right with you? >> fine by me. >> lex on wex. >> stuart, thank you very much. we will be talking later about divestment. merger and acquisition activity this year d
, and the economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time
now our economy is growing and our businesses are creating new jobs. we are poised for a good year. if we make smart decisions and sound investments. as long as washington politics and do not get in the way of america's progress. as i sat on the campaign, one component to growing our economy is shrinking our deficit and a balanced and responsible way. for nearly two years now, i have been fighting for such a plan. one that would reduce our deficit by four trillion dollars over the next decade which would stabilize our debt and our deficit and sustain us for the next decade. that would be enough not only to stop the growth of our debt and the size of our economy and make it manageable. education and job training in science and research and all of those things that help us grow. step-by-step, we have made progress towards that goal. over the past few years and signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed into law more than $600 billion in revenue by making sure the wealthiest americans began to pay their fair share. when you add the money that we will
of the economy. a discussion about the fed earlier in terms of the beige book numbers. what do you think that tells us on where we are in the economy? >> look at numbers of the last week or two, retail production numbers for december, and they were actually pretty good. of course, the employment numbers we already know were soiled, and this is in a period where the uncertainty over the fiscal cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of bothers me though is i'm a little bit worried that this coping is flipping over to complacency. the vix is now at a six-year low, and it tells me that the market is discounting 100% probability that we get through the debt ceiling without any trouble. that seems too high to me. >> so do you think the market is expecting that? i mean, when would you expect a big change in terms of the interest rate scenario? >> in terms of the interest rate scenario, probably nothing this year. i mean, we're at least a couple years away fr
the revival of the japanese economy and prosper together with asean nations. >> the president said cooperation between china and japan is important regionally and globally. the leaders agree to promote political and security dialogue and strengthen ties. he looks for abe's experience. >>> abe has been juggling a number of priorities since his party took power last month. and he became prime minister for a second time. nhk world has more on the issue his administration is trying to tackle. >> reporter: abe has done this job before. now he's getting a refresher course in diplomacy. he went on this tour to sound out leaders who share his concerns about china. he says chinese ships are becoming increasingly assertive. but abe is also keeping an eye on what's going on back home. he has promised to pull japan out of deflation and revitalize the economy. and he wants to reinforce ties with countries considered to be engines of growth. abe had hoped to make washington his first foreign visit. but u.s. officials couldn't find time because of president obama's inauguration. still, abe wants to visit as
president obama took office four years ago, the economy was getting smaller. now it is growing. nbc's first read team tries to answer the question -- are we better off now than we were four years ago? they answer it with numbers and not just, you know, gut reaction to things. the numbers. >>> and happy birthday to the first lady and that by the way is just one of the things we thought you should know. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, cascade complete pacs fight film buildup two times better than finish quantum. to help leave glasses sparkling shiny! too bad it doesn't work on windows. okay, i'm outta here. cascade. the clear choice. >>> welcome back. as we gear up for the president's second inauguration, are we better off than we were four years ago? the answer depends on the stats you pick. there are plenty of numbers suggesting that the country is on more solid foot
that president obama put them in saying they are holding the u.s. economy hostage. they are saying no. we are holding the senate hostage it a debt limit increase, that's what they have to do and we will see how far they get with the proposal. if we do a short term extension of the debt limit we are going to make it be clean without conditions. and this is what the back and forth is going to be in the parties over the next couple of weeks. >> let's talk a little bit about two other major deadlines here. does this have any impact whatsoever john as far as can you see on the the impending so-called sequestering, which i believe kicks in sometime in the next six weeks or so. and then in late march, on the idea that the government will run out of money. there will be no authorization to spend anything more and the government could functionally shut down. is that involved here at all? >> not in a formal sense. but of course all of this is linked together, what the spending plans are to come up with cuts to avoid the budget sequester which neither party wants because it affects it in is indiscri
the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy
be a financial disaster, not only for our country but for the worldwide economy. i don't think it is a question that is even on the table. >> and the last question of his press conference, the president was asked if he may be more successful with some of the nuts you just heard from if he spent more quality time with them. >> you and your staff are too insular, that you don't socialize enough. >> this, of course, is one of the great myths of governing, that intractable problems, political problems, can somehow be solved over a card game and a couple of drinks. that has never, ever been the case nor will it ever be the case. >> i like speaker boehner personally. and you know, when we went out and played golf we had a great time. but that didn't get a deal done in 2011. >> the president actually had to remind the media that congressional behavior is the result of democracy. >> now if the american people feel strongly about these issues and they push hard and they reward, or don't reward members of congress with their votes, if -- you know if -- if they reject sort of uncompromising positions or s
years since the economy collapsed most traditional americans have been focused on the immediate and urgent children is the economy, unemployment. am i going to lose my job is my house under water either figuratively with my mortgage or literally with hurricane sandy. >> liberal americans are focused in on that too. >> when most traditional americans are focused on their jobs, their families, their lives, the bigger economic picture. >> bill: you are wrong about that because they have the same economic concerns but yet same to harness their energy in the ideology. >> here is the difference. the left wing focuses 24/7. they never rest on mission of secular progress transformation whether it's america or europe. >> bill: i agree with that. >> they never rest. traditional americans have lives, they have jobs. >> wait a second. >> they are less focused on the cultural side of things than they are about community. >> liberals don't have jobs. you are talking as if tradition is is opposition to liberalism as if you are a liberal therefore you don't respect or honor tradition. that's ab
, housing is better, you want to be invested in this economy for the next three to five years because that's where you're going to make money. you're not going to make money in fixed income. you're not going to make money focusing on only pure dividend stocks that are 5%, 6%. you're going to have to have companies that can grow the top lines, that have the ability to shepherd capital and really can take the consumer that is now in a better shape than the u.s. and now is getting better overseas to grow your company. >> okay. so you're talking mostly about multi national companies or -- >> multi nationals and secular growth companies. >> both? >> both, absolutely. but you want good companies with management that are just not going to sit there and do financial engineering and say, oh, we borrowed more money and because our cost of debt is lower than our dividend and we can do that. that party is over. that game is done. you really want the companies that i think if you want to beat the market and we think actually the market is going to have -- is going to grow, gives you a look at how much
and find out what has happened and why taking a look now at the economy, its effect on the market today, good news, jobless claims dropping sharply last week, down to the lowest levels, in fact, since january of 2008. the housing sector showing its best performance in four years last month. housing for all of last year rising 28 percent, increases seen across the entire country. the good news includes permits for new start-ups. up 30% last year. the good news driving the snb to its best finish since late 2007 with stock prices closed higher for a third straight day. the dow up 85 points, s&p up eight to monastic 18 and a half. a 5-year high. volume on the big board, volume picking up. to bank stocks hurting the dow performance. bank of america reporting disappointing earnings. profits last 63 percent by charges related to billions of dollars in settlements on bad mortgages. city profits down 3% taking a $2 billion charge for litigation costs. not all banks disappointed. pnc profits surging 47%. investors applauding pushing the stock up almost 4%. commodities also hot. the combination of
that the slaves produced for their masters and that made up the core of the southern economy. and only slave labor, only the labor of people who were owned outright by their owners, by landowners who had no right to object, much less to refuse the conditions under which they were compelled to work, only slave labor would cultivate those crops intensively and cheaply enough to yield the tremendous profits that they did. slavery's importance to the southern elite was not simply a matter of dollars and cents. to many masters, as slave owners liked to be called, slavery appeared to be an essential, even an irreplaceable fixture of society. it was inseparable from everything that they knew and loved. it was inseparable from all aspects of what they refer to as their way of life. of course, economically but also socially and culturally. slavery was the unique basis of the particular outlook, the assumptions, the norms, the habits, the relationships to which these masters had become deeply and reflectsively attached -- reflectsively attached. it defined their culture, it shaped their religion, it even sh
are and as much as we can tell about the economy and financial sector, we will be obsessed with jamie dimon, if he didn't get as much of a bonus as normal because his pristine reputation because of the wale slipping -- thing we can find as members of the media. >> $6 million trade on a balance sheet of -- >> i don't know how much they made in spite of that. a lot. >>> speaking of the bank, another -- >> look who's here! >> and dressed normally, too. >> can we get the man a chair? he can't sit -- ♪ >> we thought you were trying on different zweaters. on a day like this, what is the right look for a young, happening, dashing -- >> what -- what -- >> you have time. don't do this to viewers. it's not that important. did you not get make-up? >> no. he didn't. >> look at -- this is natural beauty. >> you didn't shave -- you really think you need to be here that much that you can't get make-up? >> absolutely. >> taking one for the team. >> all right. >> speaking of this -- stay on us, please. morgan stanley will take -- you can get powder or something if you want. just headlines -- >> the women didn't
job creation and the american economy. today we will hear from s.e.c. commissioner danny gallagher who i think is well-positioned to lay out an agenda for this in the next year. we hope this is an agenda that can attract strong bipartisan support. mr. gallagher brings a unique combination of backgrounds. he started as general counsel for a financial services firm. then joined the staff of commissioner paul atkins and worked for commissioner, worked for the -- at the f.c.c. as deputy director and then acting director in one of the largest divisions. he's been on the senior professional staff, then was in private practice and about 14 months ago was confirmed by the u.s. senate as securities and exchange commission commissioner. i think everybody who who knows him will know several things about him. he is smart, he understands the complex issues. second, he is -- he has an ability to see another person's perspective and find consensus and make forward progress on issues and understands that you can achieve consensus while still remaining true to principle and finally that he is a great p
, he's got a hundred days, really maybe a year to create his legacy. we're hearing the economy, taxes, gun control, immigration, energy policy. i look for him to hit on those themes, and i look for a theme of unit. i'll look to see if he can bring boehner and the republicans over or if he's going to try to exercise in a second term as a campaign style president, one role he's more comfortable in, really, than governing. >> just briefly here because we mentioned history and we started off the show talking about president george washington's second address which was only 135 words, shortest in history. when you look over history, what do you look to as a very significant inauguration, a point of comparison, if you will, to others? >> sure. well, this one feels to me like bush's, g.w. bushes 2004 election. i look to others as more inspirational. i look at the highenned security during lincoln's reelection where he referenced god 14 times, trying to bring the country together during a civil war that was dividing our nation. i look at the depression and fdr, trying to tell people that fear
, which is that the economy started talking. nobody lessons to planers. wish i'd been there when about why we feel certain answer certain ways. burma since then they say this'll make you for a richer. the doctors started paying these communities are killing us, which i'll get into. finally, even more recently the environmentalists figured out the city was the way to save the country and the countryside. so those three issues, none of which are original research on our part from the basis for having a much more legitimate and arguable support for city life over suburban life. so what are they? the first question to ask is where do people want to be in america? portland is a prime example. statistics are amazing. during the 90s, your millennial population increased by 50%, five times the rate. educated millennial swing it so much higher because of the environment offered. the first thing interurban competitiveness for community competitiveness is where do people want to be and he's moving cities. every city i work in, they want to attract engines of lunch premiership. 64% in favor they want
. >> we must not permit and artificial debt ceiling to throw the country into default and our economy into chaos and depression, which is exactly what the republicans are threatening to do. jon: some conservative groups warn that removing the limit is a recipe for economic disaster, as we're seeing now in greece. the leaders of heritage action family research council and club for growth writing in an op ed they want congress to balance the budget within ten years and keep it balanced. quote, no american should have to tell an eight-year-old child that we cannot get our nation's house in order by the time she goes to college. there are many ways to get to a d republicans haved both an obligation to explain what path they will choose. jonah goldberg is editor at large for national review online, he's also a fox news contributor. get rid of the debt ceiling all together? jonah, what do you think about that idea? >> well i don't think it's a disaster if we got rid of the debt ceiling but i'm not in favor of getting rid of the debt ceiling. most countries don't have a debt ceiling. you sti
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to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ ♪ look what mommy is having. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice with three of your daily vegetable servings in every little bottle. ♪ ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ ♪ into a scooter that talks to the cloud? ♪ ♪ or turn 30-million artifacts... ♪ ♪ into a high-tech masterpiece? ♪ ♪ whatever your business challenge, dell has the technology and services to help you solve it. ño?
-term effect jobs will leave, people will leave and hurt the economy long term. bill: matt, thank you. steve moore, thank you as well. e-mail is hemmer@foxnews.com. viewers on home on twitter that follow me, @billhemmer, file your one word, not one word, one line. martha: one word is all you get? bill: that would be brief. because you asked, bya just need one question. fire it up and let us know what is happening in your state. martha: okay. we are following major developments right now in the fight against al qaeda. the latest on u.s. involvement in a brand new front in the war on terror that is becoming a big story today. details ahead. bill: an update on the health of former president george h.w. bush. good news here. [ laughing ] ahh, cloudy glasses. you didn't have to come over! easy. hi. cascade kitchen counselor. look! over time, cascade complete pacs fight film buildup two times better than finish quantum to help leave glasses sparkling. cascade. the clear choice. to help leave glasses sparkling. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x th
and partnering with things that are made in the usa. it's going to be just enormous for our economy. >> it's the largest company in world's history, walmart. they sell more food than -- food -- than any company in the world. >> i had no idea. >> that's how massive it is. 1.6 million employees. >> i think this could really make a difference in our economy. we need it. >>> all right. coming up, what happens when two retirees head to prison with their knitting kits. >> we'll show you those doing hard time with needles and yarn. you can't miss that. stay tuned. you're watching "world news now." stay tuned. you're watching "world news now." ♪ >>> good musical choice, huh? good musical choice. >> good stuff. all right. when you think about criminals serving time behind bars, you probably figure they're pumping iron or shooting hoops. >> and knitting is probably the last thing that comes to mind. two retirees are turning convicts into converts with yarn. here's abc's t.j. winnick with more. >> reporter: barbed wire fences, watchman towers, and a group of men with felony convictions. >> armed ki
in an effort to fight lower enrollment rates due to the bad economy. is this trend going to continue? joining us to talk about it is university maryland economist peter morris se789. half of the declines, why are more young are deciding to forgo college education? >> the cost have jumped a lot and the graduates can't find jobs. there is a sense that it doesn't pay out. you get set with a lot of big loans and join the service, learn a trade. go to a community college and skip university all together. >> gregg: president obama wants everybody to go to college? >> it doesn't pay out. most stated universities offer diplomas that don't lead to a marketable skill. there are too many graduates working at starbucks these days. >> gregg: "wall street journal" analyzed this way. take a look at this. facing stagnant family income, shaky job prospects and a smaller pool of high school graduates, more schools are reining in tuition costs. is it possible that some tuition costs may actually go down, or we simply talking about slowing the rate of increase? >> i think it's slowing the rate of increase. it's
. >> the recovering the economy and high gas prices are driving record riders ship on bart. >> but the increase in passengers could bring problems as the transit district does not act to increase its capacity and rejuvenate its aging infrastructure. >> bart riders it has increased 6% over last year of the agency only anticipated a rise of about 2%. >> bart officials say to handle growth without dismissing service it needs to, the agency needs to beef up orders new train cars and increase capacity of platforms at the busiest bart stations. >> many of the times by a $18 million over budget and the first year mayor ed lease administration. >> officials say overtime work more than double the salary of some in the employes, with one muni mechanic raking in an extra $160,000. >> employees say a lot of the overtime and for working to get many new train control system operating. >> overall, many as 22 of the city's top 25 overtime wage earners, far outpacing the usual leaders to work in police and fire. >> we now know, the lance the falcons will face off against the san francisco 49ers next sunday. >>
apply the u.s. still driving the u.s. economy. >> this is a big problem. big problem for driving businesses out of the united states. one of the most shocking things i thought was that europe and that office condition is narrowing the gaps to the united states as far as their economic freedom. sweden. another way, germany. this is where a lot of businesses want to go to duck business. they are leaving the united states in many cases. also switzerland only consider three economic freedom country in the world. grease again mostly unfreed according to the raifrngings. the most shocking thing is the united states continues to fall in the rankings. the overall trend however is some good news. there is good news here. economic freedom seems to be increasing. bad news for us at home is a lot of businesses may be taking here. we need them to keep people from being greedy and corrupt and whatnot. >> i think a big part of this study was government spending. in the overall global improvements we have seen in economic freedom is people are cutting back in spending. that's improving overall g
of this country, because the consequences of a default would ripple throughout the economy of. this of i just saw an article yesterday that said the people are now drawing on their retirement funds, the middle class of this country. so we now want to have a debt ceiling threat that would cause further erosion in the stock market, that would essentially make things begin to go haywire? i guess the republicans are going to be sinking this weekend how to proceed. i think they need to proceed with sensibility and common sense instead of an effort to be so extreme that you threaten the economy of the country. host: house republicans leaving for a retreat tomorrow to discuss - guest: they should retreat from the idea of using the debt ceiling. host: the referenced the wall street journal this morning. -- you referenced. many republicans see a debt limit showdown as risky. pat toomey said tuesday he would introduce legislation next reconstructing the white house caprettto prioritize the government's bills. guest: we have had some deficit reduction. as the president laid out a couple days ago, we have ha
promises. or helping the economy. how did you weigh those? when he makes a promise on the plus side, does he get a plus on at 500 or does he get a negative? the net -- the next time, does he get guest: we have a category called obama's top promises. you can look at those and you can see that i think his record of fulfilling them is not quite as high as overall. you make a good point -- some of his promises were sweeping and thematic and others were very specific. there were two that were lighthearted -- we included two promises like that. one was his promise during the campaign that he would buy his daughter as a puppy which is a promise kept in the other was that he would fight for a college football playoff system which we also raided a promise kept indeed, you could say this is the aggregate and you need to look in on the more narrow numbers. we published an article yesterday but we welcome anybody who wants to tally them up in different ways and provide an analysis. all promises are not created equal. host: we are looking at the top promises on politifact - tell us more about compromi
. and that is why we are seeing everywhere in the economy. it is not just the universities. >> you right of of a powerful few have deceived and dominated the new talk consistently about howard's optimism which was a beacon. how do sway the optimism he had about politics and breaking through and people having better lives for themselves and this kind of pattern he saw of people either being depressed or coopted. >> it is that easy. like howard, i am a temperamental optimist. but if robbie had won the election a think i would probably have given up, meaning a would have given up on the american people. but what howard kept saying, and he proved right again late kept saying change and the a battista change will rise in the most unpredictable ways at the most unpredictable times. it is quite true that most of the worker strikes that have taken place throughout american history have failed. but some of them have succeeded, and there was one, a powerful union movement. something like 11 or 12% of workers are unionized, but there are signs of their reverse. who would have predicted occupy wall
million buy america program that is to help america stimulate economy. it's a plan when it's been the target of workers who want higher salaries and more opportunities for full-time work. the company's offered the hire veterans who apply will begin on memorial day. for "cbs this morning," anna werner, dallas. >> many employees say the perks make some workplaces better than others. fortune magazine's andy serwer reveals it. >> one of the perks for me is working here. >>> tomorrow we'll show you one of the most unusual and chili's lunch combos starting at just 6 bucks. try our new southwestern mac and cheese with grilled chicken served with soup or salad. chili's lunch combos. starting at 6 bucks. more life happens here. mine was earned in djibouti, africa, 2004. the battle of bataan 1942. [ all ] fort benning, georgia, in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve the military, veter
. we have ground to cover. typically it comes later. payroll taxes all that stuff. the economy definitely impacts people. the thing that is great about this is helps build communities. >> what is incredible is it grows expedientially each year. there is such good karma people love to give to this cause. >> there is something for everybody. special olympics provide through sport the opportunity to bring athlete and people in the community who might not otherwise interact with them together. the plunge brings people together from all walks of life all economic stratus all for great cause of special olympics. >> you know john said it's supposed to get very cold this week. >> yes, he did. i understand that. >> how are you feeling? >> i am feeling great and so is everybody who is going to get out there. not too late to sign up. >> great. thank you. congratulations on your new job. >> thank you so much. great to be here. >>> maryland state police bowl lar bear plunge january 25th and 26th at sandy points park at plunge maryland.com. for more information www.somd special olympics if y
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want to try to stimulate the economy. we'll give folks a break and lower it. it went from 6.2% to 4.2%. now it's back where it started. >> and congress decided not to decrease it because they felt that the economy was strong enough? it may sound small to some but doesn't feel small to a lot of people. >> we're talking about 160 million people that are affected by this. the average worker will feel like a $700 loss in income for the year. and biweekly check, that will really hit you. $50,000, it will go down by $38 every two weeks. >> is there a quick and easy way to calculate how much you're going to lose if you're in the mood to do that? >> you actually just calculate your wages by 0.2. >> do you have some tips for us as to what the best way to handle this is? >> it will take a lot of discipline from a lot of people. you were used to this and now you don't have it anymore. start with juadjusting your withholding. you want a little bit more in your paycheck every time. to do that, you need to double-check your withholding. go to the irs calculator and make sure you have the withhold
republicans to hold the economy hostage. he said we could be downgraded by the credit agencies. so what happens if the president holds that position, which there's no reason to believe he won't, and republicans hold theirs, the one you just laid out, what happens to the economy? what happens to the politics of it? >> the vast majority of economists would say that on the economic side, it could be catastrophic. we don't know. if you don't lift the debt limit, we don't know what happens with our creditors, we don't know what happens with the strength of the u.s. economy. we do know that bad things probably happen. we also assume that house republicans at the end of the day will blink on this. i just would not make that assumption. i would look back to that tax vote after christmas. three-quarters of the republican party did not go along with speaker boehner on the compromise on increasing taxes. these guys don't care what leadership has to say about this issue. they want to shrink government. they were elected to shrink government. and whether it's defaulted, whether it's shutting down th
the economy of louisiana expand, and basically progress. >> he's saying if you make louisiana a great place to come, companies will come. >> yes. >> peter: and people will have work? >> yes. >> peter: but the trade-off is, higher sales tax. so the question today is, that a regresssive tax? >> yes. >> peter: as you economists say? >> yes. >> peter: what does that mean? >> everybody pays it. no relation to how much you earn. it's how much you spend. you pay tax according to what you spend. a sales tax, it tax consumption. so in that sense, yes. it is regresssive. but on the other hand, if the absence of income taxes creates a growing economy, everybody wins from that. >> peter: some states don't have income tax. >> there are seven. i'll read them, alaska, florida, nevada, south dakota, texas, washington, and wyoming. on the map. these states have no income taxes at the state level. louisiana wants to become the eighth state and north carolina, may become the ninth state. even oklahoma, they, too, are considering getting rid of personal income taxes at the state level. >> peter: these are in s
and mathematics backgrounds to stay in the u.s., use those skills to grow our economy, help our country, rather than go back to their home country. host: the white house sees hope for bipartisan deal on immigration based on what senator marco rubio of florida, republican, has put out there. he's put some ideas out there. do you -- do you endorse liz ideas? guest: i have not spoken to senator rubio yet, but we welcome those ideas. there are others in the house that are working on specific proposals and wider ranging proposals, and we want to take a look at this. you know, we are a nation of immigrants. there is not a person to be found who's a u.s. citizen who can't go back a few generations or several generations and find someone in their family who came to the united states to better their lives. my grandfather came from germany. my wife's parents came from ireland. this is a very, very common thing. we are also a nation of laws. so finding a way to address this issue and fix a very broken immigration system will entail looking at a lot of different pieces of this, including enforcement and wh
, it's critically important and timely. >> the greatest challenge the american economy has is the american congress. >> you know, it is. it really is, if you look at what's happening out there. and i've been saying this. and you guys have been saying it, too. because you go out and you talk to americans and they're discouraged by what's going on. and you say, wait a second. guys, we're in a century right now with the most technologically advanced country with the greatest universities, the greatest schools, we're going to win. >> that's right. >> even the chinese say america has eight out of the top ten universities on the planet. as you said, we've got energy. and you know this better than anybody else. there have been surveys. you ask chinese students what their biggest complaint about their education is, and they go, that our teachers don't teach us how to think like americans. >> that's right. >> they're crazy, those americans, and we want to have some of that. and you talk about -- you talk about this energy revolution, and americans need to hear this. >> it's right th
the growing threat poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is, but when it comes, going to be so swift and so savage. >> reporter: obama's plan proposes $360 billion in cuts to medicaid, medicare and other health programs over the next decade. but because costs in those programs are rising fast, the debt would be $6.4 trillion higher in 10 years. the president's budget also proposes cuts to discretionary and mandatory spending that would save $737 billion over a decade. military spending would be reduced, saving $487 billion. the fiscal cliff bill that congress passed on new year's day would also reduce projected deficits somewhat. higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day
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